ZURICH, Switzerland, February 6, 2024 — Nabtesco Technology Ventures (NTV) has invested into Sea Machines, a developer of autonomous control systems and advanced perception technology for maritime vessels. This USD 12 million funding round, which was joined by Emerald Technology Ventures, Chevron Technology Ventures, RKK VC, Level 2 Ventures, and IMC Ventures, will help Sea Machines hone its technological edge and grow its market presence.
Boston-based Sea Machines Robotics is a global leader in autonomous piloting systems meant to help sea vessels navigate and operate with greater efficiency, productivity, and capability. Its proprietary technology allows onboard computers to maintain precise control of vessel position, steering, and speed during a voyage, reroute as needed to avoid traffic and obstacles, and use streaming data to improve operations. The startup also develops solutions for computer vision, remote command and control, and advanced data collection along shipping routes, among other applications.
Sea Machines’ innovations are helping it grab a share of the fast-growing market for autonomous shipping services, an increasingly important enabler of resilience for the maritime sector—itself the foundation of most global trade. One estimate pegs growth in the autonomous ships sector at 9.6% annually between 2022 and 2030.
Key considerations behind the shift toward autonomy include cost pressures, labor shortages, safety, fuel savings and greenhouse gas reductions. The latter is a particularly pressing concern for shipping, given the challenges of decarbonizing the sector—an area that Nabtesco is actively engaged in. While clean fuels like hydrogen could potentially serve as a long-term catalyst for a greener industry, they will need to be paired with leaps in operational efficiency along the lines of Sea Machines’ solutions in order to help the sector achieve Paris Agreement-aligned emissions reductions.
About Sea Machines Robotics
Headquartered in the tech hub of Boston and operating globally, Sea Machines Robotics, Inc. is the leader in pioneering autonomous command and control and advanced perception systems for the marine industries. Founded in 2017, the company builds autonomous vessel software and systems, which increases the safety, efficiency, and performance of ships, workboats, and commercial passenger vessels. Learn more about Sea Machines at www.sea-machines.com.
About Nabtesco Technology Ventures
Nabtesco Technology Ventures is a corporate venture fund launched in 2018 by Japan’s Nabtesco Corporation, in partnership with Emerald Technology Ventures, a global leader in technology venture capital. The fund deepens Nabtesco’s involvement in the development of disruptive ventures around the world, strengthening our pursuit of open innovation, a key pillar of our company’s growth strategy. The EUR 75 million fund invests primarily, but not exclusively, in robotics, motors, sensors, additive manufacturing, artificial intelligence, and Internet of Things technologies. Nabtesco Technology Ventures reinforces Nabtesco Corporation’s position as a global leader in manufacturing technology, accelerating investment and collaboration around the world. For more information, please visit nabtesco-ventures.com.
FOR FURTHER INFORMATION, PLEASE CONTACT:
|Sea Machines Robotics
Phil Bourque, VP of Global Sales
|Nabtesco Technology Ventures